Transparency Market Research delivers key insights on the global aerospace valves market. In terms of revenue, the global aerospace valves market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global aerospace valves market space.
The global aerospace valves market is projected to increase from a valuation of ~US$ 2.6 Bn in the year 2018 to a value of ~US$ 4 Bn by the end of the forecast period of 2027.
Valves are mechanical devices that control the pressure and flow within a system. They form an important component required for system manufacture in various industries such as aerospace, automotive, power generation, oil & gas, food & beverages, and several other fields. In the aerospace industry, valves are largely used in aircraft systems, such as hydraulic systems, fuel systems, pneumatic systems, and air-conditioning systems. Aerospace valves used in aircraft systems include check valves, ball valves, solenoid valves, butterfly valves, pressure-control valves, shut-off valves, relief valves, and bleed valves.
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Global Aerospace Valves Market: Dynamics
The global commercial aircraft sector is witnessing significant growth, owing to the increased demand for next-generation, fuel-efficient aircraft. Moreover, with the rising demand for passenger travel and replacement of obsolete equipment, commercial aircraft manufacturers are ramping up their production even further. Since valves form an integral part of several aircraft systems, such as the hydraulics, fuel, pneumatics, and air-conditioning systems, increase in the production of commercial aircraft is expected to directly drive the growth of the global aerospace valves market during the forecast period.
Global Aerospace Valves Market: Prominent Regions
North America is a dominant region of the global aerospace valves market. This growth can be attributed to high investments in the aerospace & defense sector in the region by governments in North America and manufacturers operating in the region. This growth is primarily attributable to the rise in aircraft manufacturing, as manufacturers operating in the aerospace & defense industry are planning to ramp up their production to cater to the rising demand for aircraft.
Furthermore, the presence of a large number of aircraft manufacturers is also likely to boost the aerospace valves market in the region, in the near future. The aerospace valves market in Asia Pacific is estimated to witness significant growth during the forecast period, owing to rising investments in the aerospace & defense industry in the region.
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Moreover, the increase in air passenger traffic has led to a rise in the production of commercial aircraft in this region. These factors are likely to promote growth of the aerospace valves market in Asia Pacific, at a rapid pace, during the forecast period of 2019 to 2027.
Global Aerospace Valves Market: Key Players
Key players operating in the global aerospace valves market are Honeywell International Inc., Parker Hannifin Corporation, Safran, Moog Inc., Meggitt PLC, Crissair, Inc., Aero Fluid Products (Transdigm Group, Inc.), Sitec Aerospace GmbH, CIRCOR International, Inc., and Eaton Corporation Inc.
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